Notes to Accounts of NEO Infracon Ltd.

Mar 31, 2025

n) Provisions, Contingent Liabilities and Contingent Assets:

The Company recognizes provisions when a present obligation (legal or constructive) as
a result of a past event exists and it is probable that an outflow of resources embodying
economic benefits will be required to settle such obligation and the amount of such obligation
can be reliably estimated.

A disclosure for Contingent liabilities is made in the notes on accounts when there is a
possible obligation or a present obligation that may, but probably will not, require an
outflow of resources. Contingent assets are disclosed in the financial statements when
flow of economic benefits is probable.

o) Financial instruments:

Financial assets and financial liabilities are recognized when the Company becomes a
party to the contractual provisions of the instrument.

Financial assets and financial liabilities are initially measured at fair value. Transaction
costs that are directly attributable to the acquisition or issue of financial assets and
financial liabilities (other than financial assets and financial liabilities at fair value
through profit or loss) are added to or deducted from the fair value of the financial assets
or financial liabilities, as appropriate, on initial recognition. Transaction costs directly
attributable to the acquisition of financial assets or financial liabilities at fair value
through profit or loss are recognized immediately in statement of profit and loss.

A) Financial Assets

The Company classifies its financial assets in the following categories:

i) Financial assets carried at amortized cost:

Assets that are held for collection of contractual cash flows where those cash flows
represent solely payments of principal and interest are measured at amortized cost.
They are presented as current assets, except for those maturing later than 12 months
after the reporting date which are presented as non-current assets. Financial assets

are measured initially at fair value which usually represents cost plus transaction
costs and subsequently carried at amortized cost using the effective interest method, less
any impairment loss if any.

Financial assets at amortized cost are represented by trade receivables, security and
other deposits, cash and cash equivalent, employee and other advances.

ii) Financial Assets at Fair Value through Other Comprehensive Income (FVTOCI):

For investments which are not held for trading purposes and where the company
has exercised the option to classify the investment as at FVTOCI, all fair value
changes on the investment are recognized in OCI. The accumulated gains or losses
on such investments are not recycled to the Statement of Profit and Loss even on sale
of such investment.

iii) Financial assets at Fair Value through Profit and loss (FVTPL):

Financial assets other than the equity investments and investment classified as
FVTOCI are measured at FVTPL. These include surplus funds invested in mutual
funds etc.

B) Financial liabilities

Initial recognition and measurement

Financial liabilities are measured at amortized cost using effective interest method.
For trade and other payable maturing within one year from the Balance Sheet date,
the carrying value approximates fair value due to short maturity.

Offsetting financial instruments

Financial assets and liabilities are offset and the net amount reported in the Balance
Sheet when there is a legally enforceable right to offset the recognized amounts and
there is an intention to settle on a net basis or realize the asset and settle the liability
simultaneously. The legally enforceable right must not be contingent on future events
and must be enforceable in the normal course of business and in the event of default,
insolvency or bankruptcy of the company or the counterparty.

p) Fair value of financial instruments:

In determining the fair value of its financial instruments, the Company uses a variety of
methods and assumptions that are based on market conditions and risks existing at each
reporting date. The methods used to determine fair value include discounted cash flow
analysis, available quoted market prices and dealer quotes. All methods of assessing fair
value result in general approximation of value, and such value may or may not be
realized.

q) Impairment of Assets:

Intangible assets and property, plant and equipment:

Intangible assets and property, plant and equipment are evaluated for recoverability
whenever events or changes in circumstances indicate that their carrying amounts may
not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e.
the higher of the fair value less cost to sell and the value-in-use) is determined on an
individual asset basis unless the asset does not generate cash flows that are largely

independent of those from other assets. In such cases, the recoverable amount is
determined for the Cash Generating Unit (CGU) to which the asset belongs.

If such assets are considered to be impaired, the impairment to be recognized in the
statement of profit and loss is measured by the amount by which the carrying value of
the assets exceeds the estimated recoverable amount of the asset. An impairment loss is
reversed in the statement of profit and loss if there has been a change in the estimates
used to determine the recoverable amount. The carrying amount of the asset is increased
to its revised recoverable amount, provided that this amount does not exceed the
carrying amount that would have been determined (net of any accumulated amortization
or depreciation) had no impairment loss been recognized for the asset in prior years.

r) Fair value measurement:

The Company measures certain financial instruments at fair value at each reporting date.
Fair value is the price that would be received on sale of an asset or paid to transfer a
liability in an orderly transaction between market participants at the measurement date.
The fair value measurement is based on the presumption that the transaction to sell the asset
or transfer the liability takes place either:

a. In the principal market for the asset or liability, or

b. In the absence of principal market, in the most advantageous market for the asset or

liability.

The fair value of an asset or a liability is measured using the assumptions that market
participants would use when pricing the asset or liability, assuming that market participants
act in their economic best interest.

The Company uses valuation techniques that are appropriate in the circumstances and
for which sufficient data are available to measure fair value, maximising the use of
relevant observable inputs and minimising the use of unobservable inputs.

s) Leases:

The Company assesses at contract inception whether a contract is, or contains, a lease.
That is, if the contract conveys the right to control the use of an identified asset for a
period of time in exchange for consideration. At the date of commencement of the lease,
the Company recognizes a right-of-use asset ("ROU”) and a corresponding lease liability
for all lease arrangements in which it is a lessee, except short-term leases and low value
leases.

Ind AS 116 requires lessees to determine the lease term as the non-cancellable period of a
lease adjusted with any option to extend or terminate the lease, if the use of such option
is reasonably certain. The Company makes an assessment on the expected lease term on
a lease-by-lease basis and thereby assesses whether it is reasonably certain that any options
to extend or terminate the contract will be exercised. In evaluating the lease

term, the Company considers factors such as any significant leasehold improvements
undertaken over the lease term, costs relating to the termination of the lease and the
importance of the underlying asset to the Company''s operations taking into account the
location of the underlying asset and the availability of suitable alternatives. The lease
term in future periods is reassessed to ensure that the lease term reflects the current

economic circumstances. After considering current and future economic conditions, the
Company has concluded that no changes are required to lease period relating to the existing
lease contracts.

t) Earnings Per Share:

Basic earnings per equity share is computed by dividing the net profit for the year
attributable to the Equity Shareholders by the weighted average number of equity shares
outstanding during the year. Diluted earnings per share is computed by dividing the net
profit for the year, adjusted for the effects of dilutive potential equity shares, attributable to
the Equity Shareholders by the weighted average number of the equity shares and dilutive
potential equity shares outstanding during the year except where the results are anti-dilutive.

u) Cash Flow Statement:

Cash flows are reported using the indirect method, whereby profit / (loss) before
extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and
any deferrals or accruals of past or future cash receipts or payments. The cash flows from
operating, investing and financing activities of the Company are segregated based on the
available information.

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are
short-term balances (with an original maturity of three months or less from the date of
acquisition), highly liquid investments that are readily convertible into known amounts
of cash and which are subject to insignificant risk of changes in value.

Note 24: Contingent Liabilities

Corporate Guarantee given by the Company for loan taken from bank by the subsidiary Company Rs. 15,00,00,000

¹ (Previous Year Rs. 15,00,00,000)

Contingent liability not provided for in respect of disputed income tax demand Rs. 3,52,71,440/- for Assessment Year 2016-17 as the

₂

company has contested the entire demands before first appellant authority (CIT Appeals).

Note 25: Segment Information for the period March 31, 2025.

As the Company is engaged only in one business segment i.e. Construction & Sale of Flats and there are no geographical segments, the
Balance Sheet As at March 31, 2025 and the Profit and Loss Account for the year ended March 31, 2025 pertain to one business segment
and related activities as per Ind AS 108 on “Operating Segment".

Note 26: Related party transactions

As per Ind AS 24, the disclosures of transactions with the related parties are given below
26.1 Relationships during the year

(A) Subsidiary Company

Newtech Infrastructure Pvt Ltd
Nocil Infrastructure Ltd.

(B) Key Managerial Personnel

Ankush Mehta - Managing Director
Bhavik Mehta - Director
Dilipkumar K. Mehta - CFO

Tamanna Rawal (Company Secretary) 13-2-2024 Resigned
Sonalben Kanabar (Company Secretary) - 03-09-2024 Appointed

(C) Enterprises over which Key Managerial Personnel Having Significance Influence

Neo builders Limited

Neon Metal Impex Pvt Ltd

Neo builders & Developers (Proprietor)

Nocil Steels (Partnership)

Universal Builders & Developers
Sunlight Realtors Pvt Ltd

Note 30: Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Ind AS 24 issued by ICAI
and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the
amount involved is negligible and has no material impact on the Profit & Loss Account.

Note 31: Trade payable, Trade receivables, loan and advances balances are subject to confirmation and reconciliation.

Note 32: The Company has not received intimation from most of the suppliers regarding the status under the Micro, Small and Medium Enterprise
Development Act, 2006, and hence disclosure requirements in this regard as per schedule III of the Companies Act, 2013 is not being
provided.

Note 33: Other Statutory Information

i) The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding
any Benami property.

ii) The Company do not have any transactions with companies struck off.

iii) The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

iv) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

v) The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities

(Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company
(Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

vi) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding
Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

vii) The Company have no such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income

during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the
Income Tax Act, 1961).

viii) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies
(Restriction on number of Layers) Rules, 2017.

Note 33: Figures of previous year are regrouped, rearranged and reclassified wherever necessary to correspond to figures of the current year

For D. Kothary & Co For and on behalf of the Board of Directors

Chartered Accountants

Firm Registration No. 105335W

Mukesh U. Jha Ankush N. Mehta Dilip K. Mehta Sonalben Kanabar

Partner Director CFO Company Secretary

Membership No.: 125024 DIN: 06387976 DIN: 01929640 Mem no: A58808

Place : Mumbai Place : Mumbai Place : Mumbai Place : Mumbai

Date : 22-05-2025 Date : 22-05-2025 Date : 22-05-2025 Date : 22-05-2025

---

Mar 31, 2016

Note

1. The company has only one class of equity shares having par value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the realized value of the assets of the Company, remaining after payment of all preferential dues. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Details of shares held by each shareholder holding more than 5% shares:

3 Contingent Liabilities

There are no contingent liabilities as on the date of the financial statements.

4 Segment Information for the year ended March 31, 2016

As the Company is engaged only in one business segment i.e. Construction & Sale of Flats and there are no geographical segments, the Balance Sheet as at March 31, 2016 and the Profit and Loss Account for the year ended March 31, 2016 pertain to one business segment and related activities as per Accounting Standard (AS) 17 on "Segment Reporting".

5 Related party transactions

As per Accounting Standard 18, the disclosures of transactions with the related parties are given below

6. Relationships during the year

(A) Subsidiary Company

Newtech infrastructure Pvt Ltd (with effect from 15th October, 2015)

Nocil Infrastructure Ltd. (with effect from 15th October, 2015)

(B) Key Managerial Personnel

Naresh K. Mehta Dilipkumar K. Mehta

(C) Enterprises over which Key Managerial Personnel Having Significance Influence

Neo builders Limited

Neon Metal Impex Pvt Ltd

Neo builders & Developers (Proprietor)

Nocil Steels (Partnership)

Universal Builders & Developers

Stamag Builders And Developers Private Limited

Nancy Exports

7. Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

8. Trade payable, Trade receivables, loan and advances balances are subject to confirmation and reconciliation.

9. The Company has not received intimation from most of the suppliers regarding the status under the Micro, Small and Medium Enterprise Development Act, 2006, and hence disclosure requirements in this regard as per schedule II of the Companies Act, 2013 is not being provided.

10. Figures of previous year are regrouped, rearranged and reclassified wherever necessary to correspond to figures of the current year.

---

Mar 31, 2015

1. Contingent Liabilities

There are no contingent liabilities as on the date of the financial statements.

2. Segment Information for the year ended March 31, 2015

As the Company is engaged only in one business segment i.e. Construction & Sale of Flats and there are no geographical segments, the Balance Sheet as at March 31, 2015 and the Profit and Loss Account for the year ended March 31, 2015 pertain to one business segment and related activities as per Accounting Standard (AS) 17 on "Segment Reporting".

3. Related party transactions

As per Accounting Standard 18, the disclosures of transactions with the related parties are given below

4. Relationships during the year

(A) Key Managerial Personnel

Naresh K. Mehta

Dilipkumar K. Mehta

Rajen Mehta

(B) Enterprises over which Key Managerial Personnel Having Significance Influence

Neo builders Limited

Neon Metal Impex Pvt Ltd

Newtech infrastructure Pvt Ltd Neo builders & Developers (Proprietor)

Nocil Steels (Partnership)

Universal Builders & Developers

Sunlight Realtors Pvt Ltd

Stamag Builders And Developers Private Limited

Nancy Exports

5. Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

6. Trade payable, Trade receivables, loan and advances balances are subject to confirmation and reconciliation.

7. The Company has not received intimation from most of the suppliers regarding the status under the Micro, Small and Medium Enterprise Development Act, 2006, and hence disclosure requirements in this regard as per schedule VI of the Companies Act, 1956 is not being provided.

8. Figures of previous year are regrouped, rearranged and reclassified wherever necessary to correspond to figures of the current year.

---

Mar 31, 2014

1 Contingent Liabilities

There are no contingent liabilities as on the date of the financial statements.

2 Segment Information for the year ended March 31,2014

As the Company is engaged only in one business segment i.e. Construction & Sale of Flats and there are no geographical segments, the Balance Sheet as at March 31, 2014 and the Profit and Loss Account for the year ended March 31, 2014 pertain to one business segment and related activities as per Accounting Standard (AS) 17 on "Segment Reporting".

3 Related party transactions

As per Accounting Standard 18, the disclosures of transactions with the related parties are given below 25.1 Relationships during the year

(A) Key Managerial Personnel Naresh K. Mehta Dilipkumar K. Mehta Rajen Mehta

(B) Enterprises over which Key Managerial Personnel Having Significance Influence Neo builders Limited

Neon Metal Impex Pvt Ltd Newtech infrastructure Pvt Ltd Neo builders & Developers (Proprietor)

Nocil Steels (Partnership)

Universal Builders & Developers Sunlight Realtors Pvt Ltd

Stamag Builders And Developers Private Limited Nancy Exports

Inventa Infrastructure Pvt Ltd Ekveera Life sciences Pvt Ltd Ekvira Green Estate Hudson Life Sciences LLC NY

4 Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

5 Trade payable, Trade receivables, loan and advances balances are subject to confirmation and reconciliation.

6 The Company has not received intimation from most of the suppliers regarding the status under the Micro, Small and Medium Enterprise Development Act, 2006, and hence disclosure requirements in this regard as per schedule VI of the Companies Act, 1956 is not being provided.

7 Figures of previous year are regrouped, rearranged and reclassified wherever necessary to correspond to figures of the current year

---

Mar 31, 2013

1 a) Employees Retirement Benefits:

As required by the mandatory accounting standard-15 regarding "Accounting for Retirement Benefits in the Financial Statements of Employer". The Company has not provided any liability at present.

2 Segment Reporting as required by Accounting Standard 17

The present 100% sale belongs to Construction activities only within India.

3 Related parties disclosure in accordance with the accounting standard 18

List of Related Parties: Enterprise owned or significantly controlled by the Directors of the Company

4 The Company has no liability under Micro, Small and Medium Enterprises Development Act, 2006 (the act) and hence disclosure regarding:

(a) Amount due and outstanding to suppliers as the end of accounting year;

(b) Interest paid during the year;

(c) Interest payable at the end of the accounting year, and

(d) Interest accrued and unpaid at the end of the accounting year, has not been provided.

5 The Company is required to appoint a Whole time Company Secretary as per Section 383A of the Companies Act,1956.The Company had advertised for the proper candidate, but the Company, being small company, could not get proper candidate hence the Company is getting the work done from practicing Company Secretary on retainer ship basis.

6 Previous year figures have been regrouped & rearranged wherever necessary.

---

Mar 31, 2012

1 a) Employees Retirement Benefits:

As required by the mandatory accounting standard-15 regarding "Accounting for Retirement Benefits in the Financial Statements of Employer". The Company has not provided any liability at present.

2 Segment Reporting as required bv Accounting Standard 17

The present 100% sale belongs to Trading segment in SS items only within India.

Loan & Advances of Rs,3,39,00,000/- paid to Neo Builders and developers, the firm where one of the Director Mr. Naresh Mehta is interested. The aamount was given as an advances against the business MOU entered into on dated 20th October,2007 for project in reality business. The MOU was cancelled on 31.12.2009 by mutual understanding, the advances were to be paid back by 31st March 2010 without interest and thereafter interest @12% p.a was decided. M/s. Neo Builder paid back the amount during the year without interest as per the new MOU entered in to on 21 st April, 2011.

Advances given to Mr. Dilip Mehta, a Director of the Company, is as per the Business MOU entered in to on 15th June, 2009 and 6th April, 2011. does not carry any interest.

3 There are no pending capital commitments.

4 Contingent Liabilities

There are no contingent liabilities as on the date of the balance sheet.

5 The Company has no liability under Micro, Small and Medium Enterprises Development Act.2006 (the act) and hence disclosure regarding:

(a) Amount due and outstanding to suppliers as the end of accounting year;

(b) Interest paid during the year;

(c) Interest payable at the end of the accounting year, and

(d) Interest accrued and unpaid at the end of the accounting year, has not been provided.

6 The Company is required to appoint a Whole time Company Secretary as per Section 383A of the Companies Companies Act, 1956.

The Company had advertised for the proper candidate, but the Company, being suspended could not get proper candidate, hence company is getteng the work done from practicing Compaeens basis.

7 Previous year figures have been regrouped & rearranged wherever necessary.

---

Mar 31, 2011

1. Contingent Liabilities

There are no contingent liabilities as on the elate of the balance sheet.

2009-2010 2010-2011

2. Directors Remuneration Nil Nil

3. Auditors Remuneration

a) As Auditor; 80000/- 20000/-

b) As advisor, or in any other capacity i) taxation matters;



ii) Company Law matters; - -----

iii) management services; - -----

c) In any other manner 20000/- - -

4. Segment Reporting as required by Accounting Standard 17 The present 100% sale belongs to Trading segment.

5. Deferred Tax :

Deferred Tax liability on account of fixed assets Rs.2775/-

6. Related parties disclosure in accordance with the accounting standard 18 List of the Related Parties: Enterprise owned or significantly controlled by the Directors the Company:

34 Hudson Life Sciences LLC NY Dhananjay Pande

7 Loan & Advances includes Rs.3,51,00,000/- paid to Neo Builders, the firm where one of the Director Mr. Naresh Mehta is interested. The amount is given as an advances against the Memorandum of Understanding entered into on dated 20th October,2007 for project in reality business. This advance does not bear any interest. The MOU has been cancelled on 31.12.2009 by mutual understanding, the advances if not paid back before 31st March, 2010, shall bear an interest of 12%p.a.

8. a)Enplanes retirement benefits;

As required by the mandatory accounting standard - 15 regarding "Accounting for Retirement Benefits in the Financial Statements of Employer". The Campanulas not provided any liability at present.

9. Additional information pursuant to para. 3 & 4C & 4D of the Part II of Schedule VI of the Companies Act, 1956.(As certified by the management)

10. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value stated if realized in the ordinary course of business,

11. The Company has no liability under the Micro, Small and Medium Enterprises Development Act, 2006 (the act) and hence disclosure regarding;

(a) Amount due and outstanding to suppliers as the end of accounting year;

(b) Interest paid during the year.

(c) Interest payable at the end of the accounting year, and

Interest accrued and unpaid at the end of the accounting year, has not been provided.

12. The Company is required to appoint a Whole time Company Secretary as per Clause of the Companies Act, 1956. The Company had advertised for the proper candidate, but the Company, being suspended and no proper business activities, could not get the proper person. Hence the Company has appointed a Practicing Company Secretary on retainer basis to look after the requirements of the Companies Act, SEBI, BSE etc.

13. Previous year figures have been regrouped & re arranged wherever necessary

---

Mar 31, 2010

1. Contingent Liabilities

There are no contingent liabilities as on the elate of the balance sheet.

2009-2010 2008-2009

2. Directors Remuneration Nil Nil

3. Auditors Remuneration

a) As Auditor; 80000/- 20000/-

b) As advisor, or in any other capacity

i) taxation matters;

ii) Company Law matters; - -----

iii) management services; - -----

c) In any other manner 20000/- ----- -

4. Segment Reporting as required by Accounting Standard 17 The present 100% sale belongs to Trading segment.

5. Deferred Tax :

Deferred Tax liability on account of fixed assets Rs.2775/-

6. Related parties disclosure in accordance with the accounting standard 18

List of the Related Parties: Enterprise owned or significantly controlled by the Directors the Company:

The name of the Company/Firm Director

Interested

1 Nocil steels Naresh K Mehta [Partner]

2 Neon metals Impex Pvt.Ltd Naresh K Mehta

3 Neo Builders Developers Naresh K Mehta

4 New Tech Infrastructure Pvt.Ltd Naresh K. Mehta

5 Nocil Infrastructure Ltd Naresh K Mehta

6 Sunlight Realators Pvt Ltd Naresh K Mehta

7 Neo Steel & Alloys Ltd Naresh K Mehta

8 Natural Leasing & Finacials Pvt.Ltd Rajen Mehta

9 Stamag builders & Builders Rajen Mehta

10 Nancy Exports Rajen Mehta [Proprietor]

11 Godeshwar Estates Pvt.Ltd Rajen Mehta

12 Neon Metals Impex Pvt Ltd Dilip Mehta

13 New Tech Infrastructure Pvt, Ltd Dilip Mehta

14 Nocil Steels Dilip Mehta [Partner]

15 Ajanta Construction Company Tabrez Shaikh [Partner]

16 F.A.Erector & Developers Tabrez Shaikh [Partner]

17 Grace &, Rubberwala City Developers Tabrez Shaikh [Partner]

18 Hilton Developers Tabrez Shaikh [Partner]

19 Hilton Infrastructure Tabrez Shaikh [Partner] 20 Hilton Realtors Tabrez Shaikh [Partner]

21 Patni Builders & Developers Tabrez Shaikh [Partner]

22 Radha Construction Pvt Ltd- Tabrez Shaikh

23 Rubberwala Business Centre Pvt. Ltd. Tabrez Shaikh

24 Rubberwala Developers Tabrez Shaikh [Partner]

25 Rubberwala housing & infrastructure ltd. Tabrez Shaikh

26 Rubberwala Hospitality Pvt, Ltd. Tabrez Shaikh 27 Rubberwala & Neo Ventrue Tabrez Shaikh [Partner]

28 Rubberwala Realtors Tabrez Shaikh [Partner] 29 Rubberwala Shelter Tabrez Shaikh [Partner]

30 Shreeram Developers Tabrez Shaikh [Partner]

31 Ekvera Life Sciences PvtXtd. Dhananjay Pande

32 Inventa Infrastructure PvtXtd. Dhananjay Pande

33 Ekvira Green Estate Dhananjay Pande [ Proprietor ]

34 Hudson Life Sciences LLC NY Dhananjay Pande

7 Loan & Advances includes Rs.3,51,00,000/- paid to Neo Builders, the firm where one of the Director Mr. Naresh Mehta is interested. The amount is given as an advances against the Memorandum of Understanding entered into on dated 20th October,2007 for project in reality business. This advance does not bear any interest. The MOU has been cancelled on 31.12.2009 by mutual understanding, the advances if not paid back before 31st March, 2010, shall bear an interest of 12%p.a.

8. a)Ernployees retirement benefits;

As required by the mandatory accounting standard - 15 regarding "Accounting for Retirement Benefits in the Financial Statements of Employer". The Company lias not provided any liability at present.

9. Additional information pursuant to para. 3 & 4C & 4D of the Part II of Schedule VI of the Companies Act, 1956.(As certified by the management)

10. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value stated if realized in the ordinary course of business,

11. The Company has no liability under the Micro, Small and Medium Enterprises Development Act, 2006 (the act) and hence disclosure regarding;

(a) Amount due and outstanding to suppliers as the end of accounting year;

(b) Interest paid during the year.

(c) Interest payable at the end of the accounting year, and

Interest accrued and unpaid at the end of the accounting year, has not been provided.

12. The Company is required to appoint a Whole time Company Secretary as per Clause of the Companies Act, 1956. The Company had advertised for the proper candidate, but the Company, being suspended and no proper business activities, could not get the proper person. Hence the Company has appointed a Practicing Company Secretary on retainer basis to look after the requirements of the Companies Act, SEBI, BSE etc.

13. Previous year figures have been regrouped & re arranged wherever necessary

---

Mar 31, 2009

1. Contingent Liabilities

There are no contingent liabilities as on the date of the balance sheet.

2008 - 2009 2007 - 2008

2. Directors Remuneration Nil Nil

3. Segment Reporting as required by Accounting Standard 17 There are no business activities at present hence not applicable

4. Deferred Tax : Not applicable

5. Related parties disclosure in accordance with the accounting standard 18

List of the Related Parties: Enterprise owned or significantly controlled by the Directors the Company:

The name of the Company/Firm Director Interested

1 Perfect Engg.Works Pankaj M. Choksi

2 Perfect Gears Pankaj M. Choksi

3 Down Town Fashion Pankaj M. Choksi

4 Elmech Engineers Pankaj M. Choksi

5 Choksi Electro Mech Pvt.Ltd. Pankaj M. Choksi

6 Industrial Electronics (I) Pankaj M. Choksi

7 Choksi Engg.Works Pvt. Ltd. Pankaj M. Choksi

8 Advance Electronics (I) Pankaj M. Choksi

9 Cosmos Electrograph Systems Pvt.Ltd. Pankaj M. Choksi

10 Peevee Engg.& Exports Pvt. Ltd. Pankaj M. Choksi

11 Perfect Automotive Gears Pvt. Ltd. Pankaj M. Choksi

12 Nocil steels Naresh K Mehta [Partner]

13 Neon metals Impex Pvt.Ltd Naresh K Mehta

14 Neo Builders Developers Naresh K Mehta

15 New Tech Infrastructure Pvt.Ltd Naresh K Mehta

16 Nocil Infrastructure Ltd Naresh K Mehta

17 Sunlight Realators Pvt.Ltd Naresh K Mehta

18 Neon Steel & Alloys Ltd Naresh K Mehta

19 Natural Leasing & Finacials Pvt.Ltd Rajen Mehta

20 Stamag builders & Builders Rajen Mehta

21 Nancy Exports Rajen Mehta [Proprietor]

22 Godeshwar Estates Pvt.Ltd Rajen Mehta Transactions with related parties:

Nature of Transaction Transaction with Amount Rs.

1. Advances given Neo Builders 38450000/-

6 Loan 8s Advances includes Rs.3,84,50,000/- paid to Neo Builders, the firm where one of the Director Mr. Naresh Mehta is interested. The amount is given as an advances against the Memorandum of Understanding entered into on dated 20th October,2007 for project in reality business. This advance does not bear any interest.

7. a)Employees retirement benefits:

As required by the mandatory accounting standard - 15 regarding "Accounting for Retirement Benefits in the Financial Statements of Employer". The Company has no any liability at present

8. Additional information pursuant to para. 3 & 4C & 4D of the Part II of Schedule VI of the Companies Act,1956.(As certified by the management)

9. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value stated if realized in the ordinary course of business.

10. The Company has no liability under the Micro, Small and Medium Enterprises Development Act, 2006 (the act) and hence disclosure regarding:

(a) Amount due and outstanding to suppliers as the end of accounting year;

(b) Interest paid during the year.

Interest payable at the end of the accounting year, and

(d) Interest accrued and unpaid at the end of the accounting year, has not been provided.

11. Previous year figures have been regrouped & re arranged wherever necessary